Ecommerce firm Flipkart has launched a new rate card policy to enhance clarity on settlement and streamline the seller experience on its marketplace.
The changes include a simplified rate card structure, revised fulfillment rates, and updates to the shipping policy. They will be effective from May 18, 2024.
“By reducing complexities and ensuring clearer settlements, we aim to make doing business on Flipkart seamless and more rewarding. This rate card redesign is part of Flipkart’s broader initiative to streamline operations and offer robust support to our vast network of sellers across India,” said Rakesh Krishnan, Vice President and Head – Marketplace, Flipkart.
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Earlier, Flipkart’s rate card had four components: fixed, commission, collection, and shipping. These have now been reduced to two components: fixed and commission. The move enhances settlement transparency for sellers and increases ease of doing business, said the company.
Under the new policy, shipping below 500 grams within local and zonal regions will not incur additional charges. However, a surcharge will be applicable on national shipping and categories above 500 grams, the company added.
The policy also provides a more economical fulfillment rate, according to Flipkart. Fulfillment by Flipkart (FBF) is a comprehensive solution that can handle a seller’s shipping needs under one roof. FBF is responsible for efficiently managing the entire fulfillment process, from storing products to expertly packing and shipping them to customers. The revised rate card offers competitive rates to sellers, said the company.
Although some specific verticals would be excluded from the new rate card structure, overall the policy aims to create a level playing field for sellers and promote equitable growth by offering transparent fee structures to sellers, said Flipkart.
The online marketplace has implemented an educational strategy to help sellers understand the impact of the revisions in the rate card policy.
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In January, Flipkart’s co-founder Binny Bansal stepped down from the board of the company to focus on his new ecommerce venture, OppDoor. This development happened months after Bansal left the ecommerce company by selling his shares to Walmart.
The online marketplace, which competes with Amazon, also saw the departure of four senior executives: Ayyappan R, CEO at Cleartrip and SVP at Flipkart; Amitesh Jha, SVP Category and Marketplace; Bharath Ram, SVP Growth and Retention; and Dheeraj A, SVP Fintech and Payments.
Last month, Flipkart awarded Hemant Badri additional charge of spearheading the company’s venture into the quick commerce segment. The move came after reports that Flipkart had evaluated a potential strategic investment in Zepto to fast-track its quick commerce business.
Edited by Swetha Kannan
